|
r
<br />87-a 102955
<br />Is sold, ry ma, ., or further cumbered without the express or written 'sent of Beneficiary,
<br />Beneficiary racy, nt its sole option, declare all sums secured by tills (lend of Trust to 1
<br />due and payable and proceed to the remedies available to St under the default provisions contained
<br />herein, ntainately
<br />la. I�yanta of Defa_•ul.t. Any of the followtng events shall be deemed an event of default hereunder:
<br />(a) Trustor shall have failed to make payment of any installment of interest,
<br />principal or principal and interest or any other ®tags secured hereby when due;
<br />(b) There has occurred a breach of or default under any term, cotenant,
<br />agreement, condition, provision, representation or warranty contained in this Deed
<br />of Trust, the note or any other loan instrument secured hereby;
<br />(c) There has been a default by the Trustor in the payment of any prior or
<br />subsequent lien or encumbrance in respect to all or any part of the property;
<br />(d) Trustor [n all fileoa shall volluntaarry Petiasai In bankruptcy or shall be adjudi-
<br />cated
<br />respect to the property; or art action to enforces any for the benefit ce creditors
<br />judg-
<br />ments against the property is cormnenced. Y liars or encumbrance or 12. Acceleration Upon Default In the event of any default, Beneficiary
<br />secured hereby to be due and payable, and the same shall thereupon become due mart' payable all indebtedness
<br />presentment, demand, protest or notice of any kind. Thereafter, Beneficiary mays pbyeb.e without any
<br />(a) either in person or A, agent, with or without bringing any action or pro-
<br />ceeding, or by receiver appointed by a court and without regard to the adequacy of
<br />any security, enter upon and take possession of the property, or any part thereof,
<br />in its own name or in the name of the Trustee, and do any acts which it deems necessary
<br />and desirable to preserve the value, marketability or rentability of the property, or
<br />Part thereof or intereac therein, increase the income therefrom or protect the security
<br />hereof and, without taking possession of the property, sue for or otherwise collect the
<br />rents, issues and profits thereof, Including those Past due and unpaid, and apply the
<br />same, less costs and expenses of oPer»tfon and collection, including attorney fees, upon
<br />any indebtedness secured hereby, all in such order as Beneflr.fary may determine. The
<br />entering upon and Caking possession of the trust estate, the collection of such rents,
<br />fault so rnnotice profits
<br />of dart
<br />Invalidate"anvlactaandltln responsewtove such de-
<br />default fault or any e-
<br />pursuan[ [o such notice of any and, nntwithstanding the continuance in
<br />Possession of the property or the collection, receipt and application of rents, issues
<br />or profits, Trustee or Beneficiary t=ray be entitled to exercise every right provided for
<br />in anv of the loan Instruments or by lay upon occur
<br />cluding the right to exercise the power of sale; rence of any event of default, in-
<br />(b) commerce an action to foreclose. this (heed of Trust as a mortgage, appoint
<br />a receiver, cr specifically enforce env of the covenants hereof;
<br />(c) en notice to 7rtertee :r „ricca❑ declaration of default and demand for sale,
<br />and a sold, en nutfcr of default and election to cause 'f ru stor's interest in the property
<br />to be sold, which nottce Trustee shall cause to be duly !fled for record in the official
<br />records of the country in which the Property is located.
<br />Ile Foreclosure b,+_Pownr of Sale. Should Beneficiary elect to force toae by exercise of t
<br />of sale herein coots ittrd, Renef lc Lazy shall
<br />notify Trustee and shall deposit with Trustee this Deed power
<br />Trust and the note and such recclPts and evidence of ex he power
<br />may require, and upon request of the Be net lc! expenditures made and secured hereby as Trustee
<br />Of Deeds office in the County where the sty• the cited, shall file for re=cord, in the Register
<br />name of the Trustor, the Bonk and Page or Property rty !s located, a rze (.ice of default, setting forth the
<br />Register Of Deeds offtcc, the legal. descrlptlonn of the aboveldescribed real estate that said
<br />of an obligation. For udrich sold real estate was conveyed as securft
<br />the nature of such breach and the True teen election en
<br />and after the lapse of not Ie ss than oar ( >•• ,':as occurred, and setting Forth
<br />se71 the real estate to satisfy the obligation;
<br />And place of sa In vh tell may be between 9 :00)a.m. andt5a 'rust ee shall give written notice of the time
<br />the County wherein such property la located, describing pthe propertpremises. tobe cold 6t' its legal descrip-
<br />tion, the Courthouse in
<br />tarn, said notice to he puAllshed In a news p spot of general circulation In the County wherein such
<br />Property is located, once a week for five (S) consecurive weeks, the last Publication to be at least
<br />ten (10) days, bur not more than thirty (30) days, prior to the gale; anti it's Trustee shall then sell
<br />said property at the time and Place designated in the notice, !n the manner provided by law in effect
<br />at the time of filing said notice, at public auction to the highest bidder for cash and shall deliver
<br />to such Purchaser a deed to the property sold, consistent with the law in effect at the time.
<br />Upon receipt of the price bid, Trustee 'hall deliver to the purchase, Trustee's
<br />Property sold. Recitals In the Trustee's deed shall be prima facie evidence of the truth of the state -
<br />iaeaca made therein. Trustee shall apply deed conveying the
<br />reasonable costs PP Y Che Proceeds of the sale In the following order:
<br />C and expenses of the sale, including but not limited to, Trustee's fees of not more
<br />all
<br />reasonable c of the
<br />gross sale
<br />sums secured b this price, reasonable attorney fees and costs of title evidence; (b) to all
<br />Y Deed of Trust; and (c) the excess, if any, to the Person or persons legally en-
<br />cf.cled thereto. Any person, Including Beneficiary, (nay purchase said property at said sale.
<br />The person conducting the sale may for any cause he or she deems expedient, postpone the sale f[tmr
<br />time to "me until it shall be completed and, in every such rase, notice of postponement shall be given
<br />b3' public declaration thereof by such Person at the time and place last uOf Tinted for the sale;
<br />vided, if the sale is postponed for longer than one (1) day beyond the. date designated in the notice of
<br />sale, notice [hereof shall be pro -
<br />given in the same manner as the original notice of sale,
<br />16. Raa<adia® ^Rot F,xclusive.
<br />force paymett t Trustee and Beneficiary, and each of them, shall be entitled to an-
<br />and perf ormayrce of any indebtedness or obligation secured hereby and to exercise all rights
<br />and Posers under this Deed of Trust or tstdere any loan Instrument or other agreement or hereafter enforced, not=withstanding some or all of the indebtedness Which may now or hereaft.r ho othr twice aecu Rtri, f the Whether d morne thud obligations securedlherebyw °r
<br />meett or otherwise. Neither the acceptance of this Deed of Trusthnor•its enforcement, t riment, pledge, by court
<br />act=ion or 1 Re, lien. asatgn_
<br />purauattt to the Power of sale or other powers herein contained, shall prejudice or tit any
<br />cneas affect Trustee's or Reneflc4 »ry's right to realize upon or enforce any other security now or here-
<br />after held by Trustee or Banat lciarp, It being agreed that Trustee and Reneficlary, and each of them,
<br />aball he entitled to enforce thlA Deed of Trust and any other security now or hereafter held by the Bene_
<br />determine. e. Trras tae In such order and manna[ as tttay, or either ec them• may In their absolute discretion
<br />determine. ha> ceinvcty herein r.iniferrad -Pon or reserved it) Truatec or Reno!(tasty is Intended di be
<br />ci alive of any other randy herein or by law provided or pa rmit[cd, but each shall be Intended to and
<br />shall 2re !n addition in weir ocher r rx
<br />-hu£ty c >e n ddition ('vary dy given hereunder or now or hereafter exl4t anv at ley or In
<br />f 6¢risry poster or remedy erwrn by arty of the Ie >an Instruments t,.> I- r,atre or Rene -.
<br /><:,r erg vhf alther ?f [ ».m may be nlhrrvl s <'
<br />de sti lv, fr<r� t t [. i, i ice. bard AN "i irtr as
<br />may Ae• l .etasd it "d moll ot bbl i rr :Tie,.' {� . ba•n r'f t raft',
<br />r re +nr lv err tn"Ithe._
<br />,. tt�e �y P€ ape iri'm .wta•nt rr�,l(aa. yo[hing here in aha!] hs
<br />6t�' sw +king, s •e!i leer, ani either
<br />lu,lg nt agattrst Tr,,.t,.r r > t - "`d - '•'i tl IticM Ri +n €f iclary
<br />o the extent su at c'a i . =unit( •d by ,aw.
<br />e't
<br />
|